The Energy Regulatory Commission (ERC) has suspended the license of Kipeda Holdings Limited, a body corporate licensed by the Commission to carry out import, export and wholesale of petroleum products (Except LPG).
Kipeda Holdings Ltd is an oil supply and marketing private limited company headquartered in Nairobi-Kenya at Lunga Lunga Square along the Lunga Lunga Road-Industrial Area with branches in Mombasa, Kisumu, and Nakuru.
"Our attention is drawn to the ongoing boycott of petroleum products and intimidation of petroleum transporters by section of re-sellers in Nairobi and Mombasa counties resulting in fuel shortage in various parts in the Country."
In a statement, ERC said Kipeda Holdings Ltd has been leading in the boycott of petroleum products and intimidation of petroleum transporters and re-sellers in Nairobi and Mombasa counties resulting in fuel shortage in various parts of the Country, following the implementation of the Value Added Tax Act 2013 and the Finance Act 2016 that came into effect on September 1, 2018.
ERC said the action by Kipeda Holdings Limited amounts to economic sabotage and further canceled its license pursuant to Section 85 of the Energy Act No. 12 of 2006.
"KIPEDA Holdings Limited is therefore no longer licensed to carry out import, export and wholesale of petroleum products," the Pavel Oimeke-led body said on Wednesday evening.
The Energy Regulatory body further warned members of the public that Kipeda Holdings Limited is therefore no longer licensed to carry out import, export, and wholesale of petroleum products.
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